If i am unable to pay my 1st and 2nd mortgage, can the bank freeze my checking/savings accounts?
I received my 2nd mortgage through the bank that i have my checking account with.
I am in Florida.
The laws vary from state to state about collateralizing your loans.
The most important thing you can do is to keep talking to them and negotiate. Just keep talking to them. The lenders do not like to foreclose because they already have a very large real estate portfolio and IF they can actually sell the house, they don’t usually get the loan paid off in full, so they lose lots of money.
Also, there may be help for you in the Hope for Homeowner’s program.
Bill collector cashed check for a different amount?
I wrote a check to my mortgage company but they cashed the check at a lower amount that I wrote it out for and then charged me a 50 dollar late fee. I went to my bank to get a copy of the check so I can verify what I wrote it out for and they say since it went thru as an ACH withdrawal they don’t have a copy and that my mortgage company should have a copy but when I called them they say they don’t have a copy either. How can I resolve this. Sounds like a security issue and don’t want to pay the late fee when I know I am in the right.
Call the bank and ask for the highest person in resolution that you can get on the phone. Tell them your dilemma and ask that they send you something on paper that indicates what occurred in the transaction. You also need to know exactly what the ACH withdrawal means.
It sounds to me like they did cash the check as written but then because it overdrew your account you were charged the $50 overdraft fee and the mortgage was not paid. If no one has a copy of the check that means it was never cashed, never paid, and you’re in arrears as well with the mortgage company. So it’s best that you get on with getting the info from the bank. Also call your mortgage company and be sure you get confirmation that either your mortgage payment was accepted or it was not accepted and that they too send you a confirmation letter (so you have that for your records in case something else occurs).
closing and credit check?
Ok I have been freaking myself out for the last day because we have some new credit card debt since the last time that they did a credit check for our mortgage. We are closing on Tuesday of this week (Sept. 15). My loan officer told me a long time ago that they wouldn’t do another credit check unless we drug this out too long which as far as we know we haven’t. It has been about 45 days. We have a cosigner and she has practically no debt and makes more money than we do by about $800. Should I be so concerned about this or will everything be fine? Will they run another credit check this close to closing?
Your loan officer should also have told you not to purchase any high tick items prior to closing. If you moved additional debt onto your credit card this could play havoc with your debt ratio.
It matters not that you have a co-signer,the debt will show up on your credit report with a monthly payment.
Normally the underwriter will run a credit check just prior to closing no matter the length of time it take. This is customary.
I hope this has been of some benefit to you, good luck.
Maybe legal? Check it out: Common Law Marriage, Mortgage, and Associate Benefits Laws and Ethics?
I am part of a really strong friendship between me, a girl, and a guy who is in the military. Nothing sexual, we have been neighbors since birth, we are practically related. Ever since my military friend left we have always wanted to pick up and move to him and follow him to wherever he is stationed. Us two that are left are basically fed by a silver spoon, so our part time jobs have helped us save some money up while living at home, but we still don’t make enough to live on our own. His branch offers extra benefits if he were to get married such as increased pay, ability to live off base, and extra pay specifically to pay for rent and groceries. We can marry the girl with the military friend, but not really. With these benefits we would be able to all live together like the good ol’ days. I am guessing that ethically this is wrong, but maybe not? I am more concerned with the legalities, is this possibly legal? Are there any loopholes? How easy would it be to pull off? Any additional comments/warnings/suggestions are welcomed. Thank you.
I’d be very concerned about the military calling it a sham or marriage of convienience somewhere down the line and handing you a bill for the services claimed.
Ethically, you already know it’s wrong
How many credit checks is it safe to have if applying for a mortgage?
Does checking my credit report put a credit check against my name?
Be very careful with this, I used to be a mortgage adviser and 3 seemed to be the max. It is okay if it is legitimate companies that are doing them for a legitimate purpose, but don’t do any on the Internet, store cards, credit cards the More you do the worst it gets. Try to keep it to a minimum. 🙂
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